During 2017, Cheyenne Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Cheyenne for a lump sum of $55,300 because it is discontinuing manufacturing operations and wishes to dispose of its entire stock. Three types of chairs are included in the carload. The three types and the estimated selling price for each are listed below.

During 2017, Cheyenne sells 150 lounge chairs, 120 armchairs, and 120 straight chairs.

What is the amount of gross profit realized during 2017? What is the amount of inventory of unsold straight chairs on December 31, 2017? (Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to 0 decimal places, e.g. 5,845.)

Gross profit realized during 2017=?

Amount of inventory of unsold straight chairs=?

During 2017, Cheyenne Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Cheyenne for a lump sum of $55,300 because it is discontinuing manufacturingoperations and wishes to dispose of its entire stock. Three types of chairs are included in the carload. The three types and the estimated selling price for each are listed below. Estimated SellingType No. of chairs Price EachLounge chairs 300 $90Armchairs 400 80Straight chairs 800 50 During 2017, Cheyenne sells 150 lounge chairs, 120 armchairs, and 120 straight chairs.What is the amount of gross pro?t realized during 2017? What is the amount of inventory of unsold straight chairs on December 31, 2017? (Round cost per chair to 2 decimal places, e.g. 78.25 and ?nal answer to 0 decimal places, e.g. 5,845.)Gross pro?t realized during 2017 Amount of inventory of unsold straight chairs